Here’s what happens if you wait to get pet insurance

When it comes to financial products and services, time is of the essence. If you buy something too early, you may not get all the potential benefits, but if you buy too late, you may risk overpaying for limited returns. This is true for everything from life insurance per the mortgage even Gold investment. This is also true for lesser-known but equally valuable principles Pet insurance.

Pet insurance can provide affordable and valuable protection for owners the dog And the cat All ages. In return for a monthly premium paid to a provider, owners can secure compensation For a wide range of vet visits, treatments and even some procedures. However, owners should generally purchase pet insurance as early as possible to get the most benefits at the lowest cost. If they wait, they could pay significantly more — or they could risk being rejected for coverage altogether.

If you’re in the market for pet insurance, get started now by getting a free price quote here.

Here’s what happens if you wait to get pet insurance

There are some compelling reasons why owners shouldn’t wait to get pet insurance. Here’s what can happen if you decide to hold off:

Premiums may increase

A young pet is usually a healthy one. As your dog or cat ages, their health problems will increase, making them a greater risk to insurance companies. That increased risk will show up in your monthly and annual premiums and only increase with each birthday.

This is one of the best reasons to get pet insurance while your dog is still a the puppy Or your cat still has one the kitten. It is also a top reason to insure newly Pets accepted. If you wait, you’ll likely end up paying more than if you acted when your pet was young and healthy.

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Coverage options may be limited

Pet insurance does not work like health insurance for humans. If you have pets Pre-existing medical conditions, a pet insurance company will limit the coverage they provide. And that coverage will probably be more expensive if you insured your pet in good health.

“A pre-existing condition is any injury or illness that occurs or presents symptoms before coverage begins or during the waiting period.” Spot pet insurance Explained online. “A condition is considered pre-existing whether or not it has been formally diagnosed or treated; what matters is when it occurs or when symptoms first appear.”

Plans offered by Spot do not cover these issues, which means that your options will be limited if you wait to insure your pet (assuming your application is not rejected outright). Or, you can wait until they are fully recovered (if applicable) and reapply. Either way, applying for pet insurance with pre-existing conditions is not ideal. So, if you know you need pet insurance, consider acting now.

Coverage may not be available when most needed

While pet insurance is easy to apply for and easy to pay off, it doesn’t start right away. Pet insurance providers all implement their own version waiting time. This deadline usually runs after your application has been approved but before you can start submitting a claim for a refund. So if you wait until your pet is sick before applying for the policy, you won’t be able to pay out until the mandatory waiting period is over.

“The 15-day waiting period, which begins the day after you enroll, is a specified period before your coverage begins and you can be paid for claims,” Brought to you by the dodo Comment. “We cover injuries and illnesses that occur after the waiting period ends. Any claim you submit during the waiting period will not be covered. Any injury or illness that occurs during the waiting period will be considered a pre-existing condition, meaning it is covered.” will not qualify for.”

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Bottom line

No one wants to pay for insurance coverage they don’t need. But they don’t want to be stuck without the security that a strong insurance policy can provide. Fortunately, if pet owners time their application for insurance smartly, they won’t find themselves in either situation. Instead of waiting to apply for pet insurance, owners can more easily get affordable and comprehensive coverage for years to come — protecting both their furry friends and their bank accounts.